This article discusses “Credit Card Issuing and its SOP Manual”. This industry comprises establishments primarily engaged in providing credit by issuing credit cards. Credit card issuance provides the funds required to purchase goods and services in return for payment of the full balance or payments on an installment basis. Credit card banks are included in this industry. The total revenue and annual payroll are 128,859,672,000 and $5,233,864,000 respectively in 2017.
The credit card is a card issued by a financial institution, typically a bank and it enables the cardholder to borrow funds from that institution. Cardholders agree to pay the money back, with interest, according to the institution terms.
The cardholder initiates payment using the merchants card reader, usually provided by the ISO. The transaction is sent to the processor. The ISO communicates the transaction information to its payment processor. The transaction is relayed to the network.
The North American Industry Classification Systems (NAICS) has grouped services and activities associated with Credit Card Issuing under the NAICS industry code 522210. The following list shows some activities that are associated with industry 522210,